Table of Contents
What does V mean on W-2?
Code V. Code V in box 12 of the W-2 indicates income from the exercise of non-statutory stock options. Per IRS General Instructions for Forms W-2 and W-3: “Code V—Income from the exercise of nonstatutory stock option(s).
What is Code V on W-2 Box 14?
Code S—Employee salary reduction contributions under a section 408(p) SIMPLE plan. Code T—Adoption benefits. Code V—Income from the exercise of nonstatutory stock option(s). Code W—Employer contributions to a health savings account (HSA).
How do I report Code V on my W-2?
A code of V in Box 12 of your W-2 is an amount that was exercise of non-statutory stock option. This amount is included with your taxable income in boxes 1, 3, and 5. This will need to be reported on your Schedule D.
What are the codes on W-2?
W-2, Box 12 Codes
| Box 12 Code | Description |
|---|---|
| T | Adoption benefits |
| V | Income from exercise of nonstatutory stock option(s) |
| W | Employer contributions (including employee contributions through a cafeteria plan) to an employee’s health savings account (HSA) |
| Y | Deferrals under a section 409A nonqualified deferred compensation plan |
What does Code V mean?
Code “V” in Box 14 refers to contributions you made to “Non-Taxable Health Benefits”.
Does Box 1 include Box 12 Code V?
Box 12 of Form W-2 will show code “V,” which reports income from exercise of nonstatutory stock options. This amount is already included as taxable wages in box 1. The amount listed under code “V” is informational, and is not required to be added to income.
Why is my W-2 different from my salary?
Why is My W-2 Different from My Salary? The compensation may be different on a W-2 vs a final pay stub, but here’s why. Your salary is a gross dollar amount earned before taxes and deductions. Meanwhile, your Form W-2 shows your taxable wages reported after pre-tax deductions.
How do I report incentive stock options on my taxes?
Reporting an Incentive Stock Option adjustment for the Alternative Minimum Tax. If you buy and hold, you will report the bargain element as income for Alternative Minimum Tax purposes. Report this amount on Form 6251: Alternative Minimum Tax for the year you exercise the ISOs.
Why does my W-2 not match my salary?
Do stock options count as income?
Statutory Stock Options You have taxable income or deductible loss when you sell the stock you bought by exercising the option. You generally treat this amount as a capital gain or loss. However, if you don’t meet special holding period requirements, you’ll have to treat income from the sale as ordinary income.
What does code V in box 14 of my W2 mean?
What does code V in box 14 of my W2 mean?? Code “V” in Box 14 refers to contributions you made to “Non-Taxable Health Benefits”. (I am reading this description off the back of my W-2.)
Where do I enter Code D on W-2 form?
For example, if you are only required to report code D in box 12, you can enter code D and the amount in box 12a of Form W-2. Report in box 12 any items that are listed as codes A through HH. Do not report in box 12 section 414 (h) (2) contributions (relating to certain state or local government plans).
Where do I enter box 12A and 12D on Form W-2?
Note that the codes do not relate to where they should be entered in boxes 12a through 12d on Form W-2. For example, if you are only required to report code D in box 12, you can enter code D and the amount in box 12a of Form W-2.
What are the boxes in a W-2 form?
Box c—Total number of Forms W-2. Box d—Establishment number. Box e—Employer identification number (EIN). Box f—Employer’s name. Box g—Employer’s address and ZIP code.